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BY ANDREA FIGLER
Demand for adult content on cable and satellite helped buoy New Frontier Media's earnings, giving the adult provider a small profit of $700,000 for its fiscal fourth quarter ending March 31.
Revenue for the company's pay television business, The Erotic Networks, grew 11% to $8 million in its fiscal fourth quarter compared with $7.2 million for the same period last year.
Revenue for the overall company, however, fell 17% to $9.3 million in its fourth quarter compared with the fourth quarter last year largely because of the restructuring of its Internet business. Weak Internet sales combined with legal and restructuring costs resulted in a $11.9 million net loss for New Frontier's fiscal year 2003.
Michael Weiner, president of New Frontier, said the future looks bright for The Erotic Networks due to cable's push for VOD.
?The most exciting thing happening at this company is the growth of video-on-demand,? he said in the company's earnings call last Thursday. Erotic Networks was available in 5.3 million addressable homes with video-on-demand capabilities as of March 31, up from 1.1 million for the same period last year.
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